Global stocks and bonds fell globally on Tuesday as the Middle East conflict escalated, leading to a sell-off across the globe. The pan-European Stoxx 600 index fell more than 3.2% and followed a 1.6% decline. Stocks across the region all fell, with shares in the banking, insurance and retail sectors all down over 4%. In Asia, indexes ended in negative territory, including South Korea's Kospi and Japan's Nikkei 225. Meanwhile, Wall Street futures tied to all three major averages also fell. Outside of equity markets, government bonds were also gripped by the sell-offs. Haig Bathgate, CEO of Callanish Capital, said that markets could soon stabilize after the initial shock of the U.S.-Iran conflict. The foreign exchange market also saw volatility, with the dollar index adding around 0.9% and the British pound, Australian dollar and the euro moving lower against the greenback. Cryptocurrencies also came under pressure, with bitcoin shedding 3.3% to trade at $66,824.